BLBG: JPMorgan Says Yen May Strengthen to 79 Versus Dollar This Year
Aug. 16 (Bloomberg) -- JPMorgan Chase & Co. said the yen may strengthen to 79 versus the dollar by the end of 2010.
The company earlier predicted the currency would end the year at 93 against the greenback, Tohru Sasaki, chief foreign- exchange strategist in Tokyo, wrote in a report today.
The yen may strengthen to 80 per dollar by next month from an earlier estimate of 90, Sasaki forecast in the note. The currency will rise to 99 per euro by year-end from an earlier target of 116, JPMorgan said.
The yen traded at 85.86 per dollar and 109.79 versus the euro as of 7:01 a.m. in London. Japan’s currency climbed to a post-World War II high of 79.75 per dollar in April 1995.
